Rental Income Tax Calculator
Calculate the tax obligations on your rental income. Determine tax liabilities based on rental income, expenses, property type, and local tax rates.
Step 1: Rental Income & Expenses
Understanding Rental Expenses
Common rental expenses include maintenance, repairs, property management fees, insurance, property taxes, mortgage interest, and depreciation. These can be deducted from your rental income.
Step 2: Tax Details
About Rental Income Tax
Rental income is generally taxable, but you can deduct expenses related to the rental property. Tax rates vary by location, income level, and property type. Consult a tax professional for specific advice.
Rental Income Tax Results
Annual Tax Liability
Property Type Tax Comparison
| Property Type | Typical Expenses | Taxable Income | Annual Tax |
|---|
Income & Tax Breakdown
Tax Calculation Formula
Taxable Income = Annual Rental Income – (Expenses + Deductions)
To calculate tax liability: Subtract your total expenses and deductions from your annual rental income, then multiply the result by your tax rate.
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